International Olympic University

Potanin's Olympic University has three luxury hotels and only one educational facility

Summary

The University trains Olympstroy and Sochi municipal employees to work at the Olympics, and offers a Master’s programme in sports administration. The primary investor of this project is a private company, Interros, owned by Vladimir Potanin. 90% of financing was provided by a loan from the state-owned bank VEB. Aside from the University, the money went into building three luxury hotels (a 4-star and a 5-star hotel, and an extended-stay hotel) in the historical centre of Sochi. VEB doubts that the billionaire will be able to repay this loan and already classified this loan as potentially bad.

Fact sheet

Facility:
High school to train sports managers, two hotels with 350 rooms each and an aparthotel

Ecological

Champions of the corruption race

Athletes are not the only ones competing in Sochi. Officials and businessmen have also taken part in the Games and turned them into a source of illicit income. The Anti-Corruption Foundation has honored the most distinguished money-siphoners in five different sports.

Encyclopedia of Spending

We are proud that Sochi hosts the Winter Olympic Games. This is a unique sports event for everybody. However, officials turned Olympics into a source of their income. The Anti-Corruption Foundation proves that with figures and facts. Learn who cashed in on the most expensive Olympic games ever.